Stock Market LIVE Updates: GIFT Nifty indicates a gap-up start; US, Asian markets gain

#1 Numbers shown in exit polls higher than expectations

#2 Will be sentimental positive for capex stock if actual results mirror exit polls

#1 There could be attempts at accelerated reforms if PM Modi is re-elected

#2 Key sectors in focus are electricity and agriculture

#3 Positive on sectors like infrastructure, cement, private banks, NBFCs, and select industrials

#4 Negative on IT & chemicals & neutral on most consumer sectors

Oil prices fell early on Monday, despite a move by producer group OPEC+ to extend deep output cuts well into 2025.

Brent futures for August delivery were down 24 cents, or 0.3%, to $80.87 a barrel.

U.S. West Texas Intermediate (WTI) crude futures for July delivery fell 19 cents, or 0.25%, to $76.80.

#1 Government likely to focus on investment-led growth

#2 Find most sectors and stocks overvalued relative to the fair value

#3 A large BJP victory may sustain rich-to-bubble multiples in parts of the market

#1 Market may open 3-4% higher

#2 Short sellers will be completely squeezed

#3 Monday’s price action will decide what happens on Tuesday

#4 If we get ‘400 Paar’, market can do even better

#5 Party starting with the election result will not end in a day or two

#6 India’s market-cap will double to $10 trillion in next 4-5 years

#7 If FIIs decide to start buying or not sell, it can change the colour of the market

BJP-led NDA- 355-370, I.N.D.I.A Alliance- 125-140 & Others 42-52

Exit Poll predicts 47% vote shares for NDA & 33% for I.N.D.I.A

Exit Poll predicts a third term for BJP-led NDA government

A 2-3 percent upside in the Nifty on Monday looks a highly probable event. One needs to keep in mind that there was a lot of nervousness in the market ahead of the polls as there were mixed signals coming from different parts of the country. The exit polls have predicted a strong position for BJP and now all the cash that has been lying on the sidelines will pour into the market.

Investors across categories are expected to press the buy button as now their concern would be missing out on the impending rally. FPIs have also built quite a lot of short positions and short covering will also act a huge catalyst on Monday.

#1 FII flows to improve if NDA forms a stable government as predicted

#2 Will be sentimental positive for capex stock if actual results mirror exit polls

#3 Key sectors in focus are Electricity and Agriculture

#4 Positive on sectors like Infrastructure, Cement, Private Banks

#5 Negative on IT, Chemicals; neutral on most consumer sectors

#1 US futures quiet after 570 points rally on Dow

#2 Wall Street notches sixth positive month in seven

#3 US PCE data comes in line with expectations

#4 Nvidia announces latest AI chip model

#5 US 10-year hovers around 4.5%

#6 Oil prices rise after OPEC+ extends production cuts; Gaza ceasefire in focus

#7 Gold posts fourth monthly rise on Fed rate cut hopes

Asian share markets rose on Monday as investors looked forward to a rate cut in Europe, and quite possibly Canada, as the next step in global policy easing, though sticky inflation threatens to make the process a drawn out affair.

US stocks rebounded on Friday from sharp losses the day before on news of an improving consumer outlook on inflation, sending the Nasdaq to a fifth straight week of gains and record closing high.

The Dow Jones Industrial Average rose 4.33 points, or 0.01%, to 39,069.59. The S&P 500 gained 36.88 points, or 0.70%, at 5,304.72 and the Nasdaq Composite advanced 184.76 points, or 1.10%, to 16,920.79.

Despite Friday’s gains, the Dow snapped its five-week rally a day after registering its largest daily percentage decline in over a year.

For the week, the Dow dropped 2.34%, the S&P edged up 0.03% and the Nasdaq gained 1.41%.

Trends on GIFT Nifty indicate a gap-up start for the broader index in India, with a gain of 661 points or 2.91 percent. The Nifty futures were trading around 23,349 level.

The market witnessed extreme volatility on May 31 ahead of GDP data announcement later today and Lok Sabha general election ‘Exit Poll’ on June 1.

At close, the Sensex was up 75.71 points or 0.10 percent at 73,961.31, and the Nifty was up 42 points or 0.19 percent at 22,530.70.

Despite mixed global cues, the market opened positive with Nifty starting June F&O series above 22,550, however, witnessed a rangebound movement, but ended higher snapping five-day losing streak.

Top Nifty gainers included Adani Enterprises, Adani Ports, Shriram Finance, Coal India and Tata Steel, while losers included Divis Labs, Nestle India, LTIMindtree, Maruti Suzuki and TCS.

Among sectors, metal, power, telecom, realty up 1-2 percent, while media, FMCG healthcare and Information Technology indices down 0.3-1 percent.

The BSE midcap index ended flat while the smallcap index gained 0.8 percent.